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KUNMING, Oct. 8 (Xinhua) -- The building of a railway between southwest China's Yunnan Province and Laos will kick off on Oct. 28, according to its Chinese contractor.The 530-km railway, expected to be completed in 2015, will link Mohan port in Dai Autonomous Prefecture of Xishuangbanna and Vientiane, the capital of Laos, said Li Zhanqun, board chairman of the Yunnan Xiaoxiang Pan-Asia Investment Co., Ltd."We would like to use more workers from Laos to help boost the employment market along the railway," Li said.The railway is part of the Trans-Asian railway network, which will cover 114,000 km and travel through 28 countries throughout the region.In 2009, China ratified an agreement on the Trans-Asian Railway Network, which was initiated by the UN Economic and Social Commission for Asia and the Pacific (ESCAP).The agreement came into effect in June 2009.
BEIJING, Nov. 3 (Xinhua) -- China's banking regulator on Tuesday said the banking industry, pillar of the nation's financial system, has an important role to play in transforming the country's economic growth pattern as it highlighted four areas in boosting the process.Jiang Dingzhi, vice chairman of the China Banking Regulatory Commission, on Tuesday urged more efforts be made by the nation's banking sector in expanding consumption-related loans amid the government calling to boost domestic consumption.More channels should be opened to meet the varied consumption needs from residents as financial support should lean on the construction of affordable housing. Loans to property developers who make small and medium-sized homes at medium and low prices should be met, but be restricted to them for speculative purposes, Jiang said.Also, the structure of bank credit should be further optimized in line with the restructuring of the nation's economy, Jiang said at an industrial forum held here Tuesday.This could mean polluting and energy-intensive companies may face more difficulties in obtaining loans from banks.Meanwhile, Jiang urged banks to improve their financial services in the rural areas in China as part of the coordinated development between the rural and urban areas.Further, Jiang said banks should work to improve the availability of financial support for small-sized companies and low-income residents.Jiang said total outstanding bank loans to small-sized companies stood at 7.1 trillion yuan (1.1 trillion U.S. dollars) by the end of September, an increase of 22.3 percent, or 1.3 trillion yuan, compared to the beginning of the year.The growth rate was higher than the average 14.5 percent increase of new loans for all companies during the period, Jiang said.
BEIJING, Sept. 14 (Xinhua) -- Top Chinese legislator, Wu Bangguo, has urged government departments to take effective measures to solve shortages of drinking water and improve the living standards for residents in an impoverished northwestern area of the country."It is a long-term strategic task and an urgent livelihood project to improve the environment and basic living standards in the impoverished areas in Ningxia," said Wu Bangguo during an inspection in northwest China's Ningxia Hui Autonomous Region.Wu, Chairman of the Standing Committee of the National People's Congress (NPC) Standing Committee, urged officials to solve the region's drinking water problem in about three years and accelerate the evacuation of local residents to places with better environment.Wu Bangguo (2nd L), chairman of the Standing Committee of China's National People's Congress, the country's top legislature, inspects a paper manufacture enterprise of northwest China's Ningxia Hui Autonomous Region, Sept. 11, 2010. Wu made an inspection tour in Ningxia from Sept. 10 to 14With an inhospitable natural environment coupled with a severe ongoing drought, the central and southern regions of Ningxia are one of the key impoverished areas for the country to support.Wu visited a mountainous village called Haigou, where the average annual income per capita is only about 2,700 yuan (400 U.S. dollars).Some 251 villagers of the Hui ethnic group are living in the village, and they have been suffering shortages of drinking water due to water and soil losses.
SHANGHAI, Oct. 30 (Xinhua) -- Chinese Premier Wen Jiabao's trip to Vietnam, during which he attended a series of summits between the Association of Southeast Asian Nations (ASEAN) and its partners, enhanced good-neighborly relations, promoted regional cooperation and common development, Foreign Minister Yang Jiechi said Saturday.During his three-day stay in Hanoi, Wen attended the 13th summit between China and ASEAN (10+1), the 13th summit between ASEAN, China, Japan and the Republic of Korea (10+3) and the fifth East Asia Summit. He also had bilateral meetings with some leaders on the sidelines of the summits.When briefing reporters on the outcome of the premier's trip, Yang said that the situation in East Asia is undergoing profound changes, with both opportunities and challenges ahead.Chinese Premier Wen Jiabao (6th L) poses for a group photo with leaders attending the 13th China-ASEAN Summit in Hanoi, capital of Vietnam, Oct. 29, 2010.To boost political mutual trust, promote mutually beneficial cooperation and push for regional integration and sustainable development is the common will shared by countries in the region, and is also the main theme of the summits, Yang said.He said peace, stability and development of East Asia is crucial to China, and that China has always valued and participated in cooperation with East Asian partners.The goal of Premier Wen's trip was to cement good-neighborly relationship, deepen regional cooperation and boost common development, Yang said.During his 48-hour stay in Hanoi, Wen attended some 20 activities, delivered several important speeches, and put forward dozens of proposals, Yang said.The premier also had extensive contacts with leaders of other countries, held in-depth exchanges with them, and expounded in a sincere and objective manner China's foreign policy principles of "building friendship and partnership with neighboring countries" as well as its policy of seeking mutually beneficial and peaceful common development with other countries, Yang said.China's position was hailed by all sides, and Wen's trip further strengthened China's friendly cooperative ties with its neighbors, and boosted East Asia cooperation, Yang said.Premier Wen's pragmatic and highly-efficient trip scored great successes, the top Chinese diplomat said.
BEIJING, Oct. 1 (Xinhua) -- A Chinese Foreign Ministry spokesman on Friday called for concerted efforts from Japan to maintain relations between the two countries.Foreign Ministry spokesman Ma Zhaoxu made the remarks following Japanese Prime Minister Naoto Kan's policy speech Friday, in which he reiterated Japan's territorial claim over the Diaoyu Islands.Ma said the Diaoyu islands and its adjacent islets have been Chinese territory since ancient times.Japan illegally detained Chinese fishermen and seized ship in waters off the Diaoyu Islands and insisted on performing a so-called domestic judicial procedure. Such moves were "absurd, illegal and invalid," Ma said.As a neighbor of Japan, China has always attached importance to developing bilateral ties with Japan, Ma said."I hope Japan will work with China to jointly maintain relations between the two countries," Ma said.In the speech at the opening of an extraordinary Diet session on Friday, Naoto Kan also said amicable ties between Japan and China were vital not only for the two nations but also for the peace and stability in the Asia-Pacific region.